How to add an ARM index?

Before you can process ARM calculations for a loan, you must first enter the corresponding index and rate information. To learn more about ARM indexes read this article. You can add a new ARM index through the loan file and through Tasks & Reports.

To add an ARM index through the loan file:

Click on the Loan Servicing drop-down menu in the left panel of The Mortgage Office®.
Click the Loans drop-down menu.
Click All Loans from the list that drops down.
From the All Loans grid, select the loan you want to modify.

TIP: If the record you want to edit is not visible, use the grid's vertical scroll bar to scroll the contents of the grid up or down, or click Find to search for the record by entering your own search criteria. For additional information see How to Use Find and How to Use the Data Grids.

Click Edit at the top of the screen or double-click on the selected file.
Click on Terms in the left-hand navigation panel.
In the Terms page, click the ARM tab.

NOTE: Before you have access to the ARM tab, you must first let the system know this is an adjustable rate loan. To do this, select ARM-Adjustable Rate in the Rate Type drop-down menu located in the Options tab in the Terms page of the loan file.

Click the blue Index hyperlink.
Click to open the Add Index assistant and enter the following information:

Field:	Description:
Index Name	Enter the name of the index.
Publish Frequency	Enter how often the index will be published.
Source of Information	Enter where the source of the index information is coming from.
Other Information	Enter any other information about the index.

TIP: The index name can be up to 50 characters long. See examples of commonly used names below:

6-Month LIBOR
1-Year WSJ Prime (Wall Street Journal)
1-Year CMT (Constant Maturity Treasury)

Click OK to save the changes, or Cancel to abort.

To add an ARM index through Tasks & Reports:

Go to Loan Servicing in the left panel of The Mortgage Office®.
Scroll down to Tasks & Reports and click on it.
Click Manage Indexes located underneath the Adjustable Rate Mortgages section of the page.
Click to open the Add Index assistant and enter the following information:

Field:	Description:
Index Name	Enter the name of the index.
Publish Frequency	Enter how often the index will be published.
Source of Information	Enter where the source of the index information is coming from.
Other Information	Enter any other information about the index.

TIP: The index name can be up to 50 characters long. See examples of commonly used names below:

6-Month LIBOR
1-Year WSJ Prime (Wall Street Journal)
1-Year CMT (Constant Maturity Treasury)

Click OK to save the changes, or Cancel to abort.

How to add an ARM index?

This article explains how to add a new ARM index.

To add an ARM index through the loan file:

To add an ARM index through Tasks & Reports: